S. Rina

IMF Upgrades China Growth Estimates, Making it the Fastest Growing Large Economy

  | Jan 21, 2017 01:38 PM EST

The International Monetary Fund (IMF) has raised its forecast for the Chinese economy. A report released on Monday stated that China's economy is expected to grow by 6.5 percent during this year. This estimate is higher than previous estimates by 0.3 percent. read more

Domestic Consumption Remains A Growth Driver for Chinese Economy; China General Chamber of Commerce In Upbeat

  | Jan 21, 2017 01:55 AM EST

China is making a shift from manufacturing based economy towards consumption based economy. The country made impressive achievements in 2016 as domestic consumption emerged to be the primary growth driver for the economy last year. read more

China’s Richest Man Wang Jianlin Warns Trump Against Trade War

  | Jan 20, 2017 10:03 AM EST

Wanda Group's Wang Jianlin, China's richest man, issued a stern warning to Trump. He said that any protectionist policy is likely to result in discord between the countries. He also added that such disagreements would be detrimental to both the countries. read more

China Finds Bitcoin Exchanges Circumventing Regulations; Halts Margin Trading

  | Jan 20, 2017 09:57 AM EST

China has taken strong steps to curb Bitcoin operations in the country. The government authorities undertook a series of investigations into the working Bitcoin exchanges in China. It found that several practices were in contravention to existing laws. read more

China’s US Treasury Holding Declines for Sixth Month; Hits Lowest Level Since 2010

  | Jan 20, 2017 09:53 AM EST

China continues to cut its US treasury holdings for the straight sixth month. It sold $66 billion worth of US debt in November, taking its holdings to the lowest level since 2010. China is currently taking steps to boost up its local currency. read more

Alibaba Inks 12-Year Technology Deal with Olympics

  | Jan 20, 2017 09:50 AM EST

Chinese tech giant Alibaba Group has inked a sponsorship deal with Olympic Games. The collaboration is reported to be worth $800 million. This is one of the biggest agreement in the history of Olympic movement. read more

China to Unveil Super Computer by the End of This Year

  | Jan 19, 2017 07:21 AM EST

China plans to develop a prototype supercomputer in 2017. The machine will be an exascale computer and will be able to execute a quintrillion calculations per second. China already holds the distinction of having the world's fastest supercomputers. read more

Trump Aide Scaramucci Sells SkyBridge Stake to Chinese Consortium

  | Jan 19, 2017 07:12 AM EST

Trump backer Anthony Scaramucci announced that he plans to sell his hedge fund SkyBridge to a Chinese consortium. Scaramucci has been picked by president elect Donald Trump as his new public liaison to government agencies and businesses and an adviser. read more

Baidu Doubles down on AI, Hires Former Microsoft Executive Qi Lu

  | Jan 19, 2017 06:19 AM EST

Baidu has taken its AI efforts to next level as it announced hiring former Microsoft executive Qi Lu as its new COO and group president. Lu had stepped down from Microsoft four months ago, citing health reasons. read more

Audi to Introduce New Electric Vehicles in China

  | Jan 18, 2017 10:54 PM EST

Audi announced its plan to sell more electric vehicles in China. It is also looking to promote autonomous driving in the country. The major auto company will collaborate with FAW Group Corp to boost its presence in China. read more

China’s Big Cities to Grow Slower in 2017

  | Jan 18, 2017 10:18 PM EST

Some of the biggest cities in China are targeting slower growth rate this year. The slowdown will continue from the previous year when the rate of growth showed deceleration. read more

Apple iOS Apps Continue to Grow in China

  | Jan 18, 2017 10:12 PM EST

Apple apps saw a surge in their downloads in 2016. The increase is mainly caused by the increase in demand from China. The country is now believed to be the biggest market, in terms of revenue, for Apple's iOS App Store. read more

China Cancels Construction of over 100 New Coal Power Plants

  | Jan 18, 2017 07:52 AM EST

China is continuing its war on coal in order to push the use of renewable resources. The National Energy Administration (NEA) announced on Saturday that construction of upcoming coal projects would be halted in accordance with the country's Five-Year Plan. read more

China Sovereign Wealth Fund CIC to Boost US Investments

  | Jan 18, 2017 05:06 AM EST

Chinese sovereign wealth fund China Investment Corporation (CIC) is planning to raise its profile in the United States by looking at alternative investment opportunities. The fund said that its new course of action is prompted by relatively lower returns in the public markets. read more

Baidu Opens Augmented Reality Lab to Boost Its Fortunes

  | Jan 18, 2017 04:44 AM EST

Baidu aims to pursue its augmented reality ambitions in 2017 as the company announced that it will open its brand new Augmented Reality lab in Beijing. With this step, the Chinese technology giant is looking to boost its bottom line with the help of state-of-the-art technology. read more

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IMF Upgrades China Growth Estimates, Making it the Fastest Growing Large Economy

The International Monetary Fund (IMF) has raised its forecast for the Chinese economy. A report released on Monday stated that China's economy is expected to grow by 6.5 percent during this year. This estimate is higher than previous estimates by 0.3 percent. read more

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